Real estate statistics can be confusing for those not in real estate. There are statistics comparing the current month to the same month last year (currently not an accurate picture for Wisconsin real estate), Year-to-date stats, quarterly stats and also the possibility of taking a negative view of the various stats versus a postive view. There’s also the Pending Home Sales index which is a forward-looking figure. Pending sales are different from closed sales – they have not yet closed or sold -pending sales are an indication of the months to come.
The latest Pending Home Sales Index from the National Association of Realtors showed a substantial 10.4% month over month increase. In addition, both NAR and Fannie Mae expect an increase in sales over the next 5 quarters. Chart courtesy of KCM blog
The increase and consistent predictions indicate that housing demand is on the rise. While home prices are not expected to gain much in 2011, an increase in sales will help to clean out excess inventory, even out the supply and demand and that will help prices.
The time to sell Wisconsin real estate may be now. The time may also be just right to buy Wisconsin real estate. In either case, First Weber Group would be happy to help. Please contact the First Weber agent or office of your choosing or contact First Weber Group.
Thank you for reading the First Weber Wisconsin real estate blog for information on the Wisconsin real estate market.